Top 7 New Year Resolutions for Your Business

The arduous journey of 2020 is coming to an end, and the dawn of a new year is not far. We are finally allowed to start wishing for better times, as the New Year brings the opportunity to begin planning for the next dozen. Especially for businesses – that wish to undergo major transformation – the New Year is the best time to set some resolutions or goals. Along with utilizing BPO services for data entry outsourcing or document conversion, business owners can also consider integrating advanced options like RPA, Big Data and so on to meet their goals. Though most industries have undergone major shifts in functioning during this COVID-19 pandemic, many are still struggling to cope up with the new changes. Therefore, to thrive today, instead of succumbing to daydreaming, small business owners need to consider internal and external factors when planning for 2021.

Let’s check out some realistic goals you can set for your business for 2021:

1. Perform Complete Digital TransformationWith complete digital transformation, you could access your information and resources from wherever and whenever you need them. This brings efficiency to every aspect of your business processes, from accessing your paperwork online to taking advantage of digital advertising and building a strong online presence for your brand/product. With the help of document scanning services, you could transform your organization’s paperwork to preferred digital formats.

   According to the Financial Express, amid this pandemic, many companies embraced digital transformation more wholeheartedly. By doing so, they have performed better during the pandemic and expect a faster rebound. A global survey titled, “Digital Readiness and COVID-19: Assessing the Impact,” undertaken by the IT services reveals that 90% of organizations are maintaining or increasing their digital transformation budgets amid the pandemic.

2. Go Paperless with Document ScanningAn organization generates a large volume of documents – including on-boarding forms, insurance forms, tax forms, resumes/applications, interview records, government forms, talent and employee performance reviews, certificates and training material, benefit forms, litigation records etc – on a daily basis. By going paperless and storing this huge-volume data in digital format, you can improve your workflow and at the same time protect our environment too.

   This New Year, we can transition from physical documents to electronic document management systems, as it helps save time and resources involved in shuffling papers throughout the office. With the help of a professional document scanning company, you can scan the documents and convert them into the required format.

3. Invest in Cyber Security MeasuresAs we all know, over the past few decades, technology has become an increasingly integral part of the workplace. Businesses rely on technology – from financial transactions to professional networking – to remain connected at all times. However, when these lines of communication are threatened, it can have a disastrous effect on the business. So, to protect our sensitive data from being compromised, businesses should ensure that they invest in reliable cyber security measures.

   According to a Cisco report, as organizations allow significant portions of their workforces to remain remote, cybersecurity will become an even greater concern in 2021. Therefore, businesses need to set their goal to implement reliable cybersecurity measures for conducting work effectively.

4. Introduce Automation: Due to the COVID-19 pandemic, many industries and companies – including business process outsourcing companies and third-party service providers – are affected and they are struggling to cope up with the changing work conditions. By adopting automation technology, they can simplify business tasks and deliver a better experience. Automation and robotics are changing the way we work and live. If automation technology is adopted in your business, you can improve efficiency by reducing human errors, raise productivity, and save time and energy spent on repetitive tasks. With automation, businesses can also improve customer support, generate more leads, improve their connection with consumers, and gather large quantities of data for future campaigns. Therefore, in 2021 consider automating your business processes.Adopting automation in your business doesn’t mean that you need to cut short your staff. On the other hand, automation would actually allow your office staff to do their jobs more efficiently, giving them time and space to grow and learn new approaches. According to a Forbes report, many organizations experienced an increase in business following the adoption of automation. It has also opened up new jobs, which means that, optimizing your processes is an essentially positive workforce shift that both your profit and your staff will benefit from.

   The objective overall should be to utilize digital transformation and robotic process automation in the best way possible and keep the business performing optimally. Many organizations, including business process outsourcing companies, are using Robotic Process Automation to continue performing various business functions, freeing up the time for employees to focus on core processes.

5. Improve Customer ServiceThis year, improve your communication with clients and give them a better experience to show that you care about them. This is very important, because customer is king and our resolutions should reflect that.

   To improve customer experience, you can utilize certain tools such as email, Chatbot and phone to analyze customer reviews on your business/brand. This will help you understand if your brand has any flaws and make improvements accordingly to meet customers’ expectations.

6. Track Your Growth ProcessMake it a routine to track your growth periodically, because this data is key to understanding how your business is performing. It will give you a deeper look into what’s working and what’s not and help you decide what has to change (as it is not working) and what has to stay.

   You can track your growth process in many ways such as setting up meaningful Key Performance Indicators (KPIs), tracking your actual income versus your goal income, tracking your expenses, developing methods to collect and organize data, measuring marketing effectiveness and so on.

7. Discovering New Marketing IdeasInvest in new marketing ideas such as online advertising as there are new opportunities around every corner. More and more companies now invest in digital marketing, by opening social media accounts, building a website and by listing their organization’s details such as working hours, address, phone number and so on in Google.

Once you’ve set your resolutions, you need to make sure that you keep them. Set deadlines for each goal, allocate resources beforehand and most importantly, let your team know about your plans. Proceed in the right direction and let this New Year bring more business and growth to your firm.